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Shibarium Token BONE Smashes Big Adoption Milestone: Details

Thu, 08/31/2023 - 15:18
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Tomiwabold Olajide
Shiba Inu token BONE sets new adoption benchmark
Shibarium Token BONE Smashes Big Adoption Milestone: Details
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Shibarium token BONE has smashed a big adoption milestone, with its total addresses reaching a new record. According to IntoTheBlock data, BONE's total addresses have steadily increased, reaching a new high of 190,720.

BONE is the Shibarium network's gas token; hence, the increase in total addresses might have been spurred by those wishing to interact with the novel Shibarium blockchain.

As reported, BONE, at a certain point in the past week, saw the addition of over 2,000 addresses in a single day.

Per Shibarium documentation, stakers are rewarded for helping to validate the ledger. They do this by delegating their stake to validator nodes. Validators, by definition, run a full node and protect the network by staking BONE to generate blocks, validate and participate in PoS consensus.

That said, the amount of BONE staked on Shibarium continues to increase. At the start of the week, U.Today reported this to be over 19 million. This number has significantly increased, and the total amount of BONE staked on the Shibarium network is currently 22,069,182.

Shibarium continues to hit significant milestones. Per the Shibarium scan, the total transactions on the network are now at 628,131. The number of wallet addresses on the Layer 2 blockchain has also risen to an astounding 447,138.

Shibarium Hits Big Milestones With Over 19 Million BONE Delegated

The total number of blocks on the Shibarium mainnet has grown significantly, reaching 387,933. Currently, Shibarium has an average block time of 5.1 seconds.

Despite the significant milestones attained, BONE's price has significantly failed to move of late as profit-taking has taken effect. BONE has been steadily declining since attaining highs of $1.45 on Aug. 25.

At the time of writing, BONE was down 3.58% in the last 24 hours to $1.22. The token is likewise down 10.97% in the last seven days.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.